References to the new economy have typically been denoted by the "e" prefix. But what exactly is the new definition for the fifth letter of the alphabet? This ECTalk discussion focuses on trying to define all things "e".
MK queries the group:
"Could someone guide me to the definitions of e-economy. I believe the term should cover some titles like e-government, e-learning, e-commerce, etc., but I need professional advice. Thanks in advance for your kind help."
J responds:
"The term e-economy has anything to do with the Internet's influence over money."
MM suggests:
"I would pick up a copy of a new book called 'The Death of e' by Peter Fingar to find the best e-definitions and why they're moot by now."
SL shares some opinions:
"The best thing about all this death of 'e' and related stuff is that it is exactly the same people who caused the problems that will bring it back up.
If people *sensibly* think about what the term 'e' in Internet terminology stands for then of course it will succeed.
Unfortunately for technology people like myself, the area became overrun with people trying to make money who never had a clue about the new environment they were working in.
There really was no difference between those people with five minutes of business experience and those with 30 years. Sounds bold, but I went to SO many venture capital meetings with a number of 'business angels' who went from search engines to B2C to B2B and P2P, etc. but never knew what they were actually looking at. The funny thing is that VCs and business experts in general seem to think 'better business managers' are the key. Sure, to manage the people or finance maybe, but haven't we learned that companies run by people who know what they're doing technologically actually work (IBM, Microsoft, Amazon, Yahoo, Google etc.)
Anyone with a CLUE about B2B, for example, knows that before it can take off an infrastructure must be put in place. That doesn't exist yet, but it's not far away!
I would love to have seen how all these people 'in the know' would have done if they had predicted the end of cars, shipbuilding, radio, television, etc. after six years of real commercial input.
It takes longer. Those in for the long run will win — the Internet is not unlike other businesses. However, the return — if you actually sit back and think about how it will be used (rather than how to make a few bucks today) — will be incredible.
Love to hear people tell me that online banking, shopping, automated inventory control, etc. is not going to be big, just because the experts who caused the problems tell us.
Anyway, those are my thoughts and at least, unlike almost all of the business people I met, I have been with the Web since it started and know where it is headed."
MPS replies:
"E-economy stands for the businesses which utilize the Internet and related
IT resources to enable/complete their business transactions (and hence the gross domestic product of an economy generated from such economic activities). This is a loose definition."
HS offers:
"Here is a site that might help you out: Webopedia."
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